NewStar Financial, Inc. (NASDAQ:NEWS) released its quarterly earnings data on Tuesday. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.08. NewStar Financial had a return on equity of 3.34% and a net margin of 7.76%.
Shares of NewStar Financial (NASDAQ:NEWS) opened at 9.55 on Tuesday. NewStar Financial has a 52 week low of $5.22 and a 52 week high of $11.37. The stock has a market cap of $422.18 million, a price-to-earnings ratio of 20.28 and a beta of 1.94. The firm has a 50-day moving average price of $9.11 and a 200-day moving average price of $9.53.
Separately, Zacks Investment Research upgraded NewStar Financial from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research note on Saturday, November 5th.
In other NewStar Financial news, Director Bradley E. Cooper sold 13,246 shares of the stock in a transaction that occurred on Monday, December 19th. The shares were sold at an average price of $9.19, for a total transaction of $121,730.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 9.55% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in NEWS. Metropolitan Life Insurance Co. NY acquired a new stake in NewStar Financial during the second quarter worth about $152,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of NewStar Financial during the fourth quarter worth approximately $221,000. Wedge Capital Management L L P NC increased its stake in shares of NewStar Financial by 85.8% in the second quarter. Wedge Capital Management L L P NC now owns 63,365 shares of the company’s stock worth $367,000 after buying an additional 29,265 shares in the last quarter. Shelton Capital Management purchased a new stake in shares of NewStar Financial during the fourth quarter worth approximately $1,530,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of NewStar Financial during the fourth quarter worth approximately $1,995,000. Institutional investors own 81.93% of the company’s stock.
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About NewStar Financial
NewStar Financial, Inc (NewStar) is a commercial finance company with specialized lending platforms focused on meeting the financing needs of companies and private investors in the middle market. The Company and its wholly owned investment management subsidiary, NewStar Capital LLC, are registered investment advisors and provide asset management services to institutional investors.
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